Before you go ahead and begin to get excited about receiving any sort of aid by way of the Pell Grant it is important to first understand what the Pell Grant is, and what its limitations are. By taking into account the vital Pell Grant information that makes this award what it is you can better understand your chances at receiving this award, what it can do for you, and how to get approved each year. To start it is first crucial to understand that the Pell Grant is awarded on an annual basis, and you therefore must reapply each year that you are in school if you want to receive the award. The way you have to apply for a Pell Grant is via the FAFSA, as there is no specific Pell Grant application that is in place exclusively for the Pell Grant.
Demonstrating the Appropriate Financial Need
The Pell Grant is provided for students who demonstrate a significant need for additional funding to attend their post-secondary institution of choice. To become eligible you therefore must be able to demonstrate that you have a high financial need, and the way this is evaluated by the Department of Education is through the EFC metric, or expected family contribution.
The EFC is supposed to serve as an indicator for the amount of money your family can contribute towards you education-related expenses for the upcoming school year, and it is the most important factor you need to pay attention to if you want to gain a positive Pell Grant eligibility status. Your EFC will also play a large role in determining the actual Pell Grant amount you are able to receive, as this is determined by your school’s consideration of a variety of factors including EFC, cost of attendance, and enrollment status.
Becoming Eligible for the Pell Grant
If you are able to qualify for the full Pell Grant amount you should be able to receive up to 5,550 dollars for the 2010-11 school year. Most students aren’t able to get the full amount, and on average most students receive about half the maximum amount for that school year. This of course comes down mostly to your EFC, and your ability to demonstrate a significant financial need for student aid. Becoming eligible comes down again to your EFC, and a host of other Pell Grant qualifications, including your status as a U.S citizen, your ability to show proof of a high-school diploma, or GED, and having the appropriate status as an undergraduate student.
Other Pell Grant information that can determine your eligibility for the Pell Grant include your criminal record, the degree program you are enrolled in, the school you are attending, and your status when it comes to federal aid over your post-secondary educational career. Remember that the Pell Grant never has to be paid back, and if you think that you may be able to qualify it is never a bad idea to at least fill out a FAFSA so that you can gauge where you stand.
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